Appleton to outsource IT, finance work

APPLETON — Papermaker Appleton today announced plans to outsource the management of portions of its information technology and finance processes, eliminating 28 jobs at its headquarters here.

The processes will be outsourced to Cognizant Technology Solutions, Teaneck, N.J., which operates more than 50 global delivery centers in five countries around the world.

The transition will take six months to accomplish, said Bill Van Den Brandt, manager, corporate communications.

Appleton will continue to staff a core IT team to direct and actively manage the core architecture, business process ownership, and project development to address evolving business needs, he said.

Cognizant will provide services through an onsite/offshore delivery model based in India.

Appleton, a producer of carbonless, thermal, security paper and perfomance packaging, employs about 1,200 people in the Fox Cities.

---

State Street Global Advisors (SSGA) has completed its valuation of Paperweight Development Corp. stock for the second half of 2009. SSGA has determined the new per share value to be $13.26.

The value of PDC stock on June 30, 2009, was $18.87 per share. That means the share value decreased 29.7% for the period July 1, 2009, through December 31, 2009.

Analysis
A combination of difficult economic conditions worldwide and weak demand for our carbonless, thermal and packaging products resulted in the company missing its 2009 business forecast. Missing the forecast included a drop in earnings that caused a subsequent decrease in share value. Specifically, the performance of our core paper business resulted in a $3.16 drop in share value. That decrease in value includes the positive contribution of the increase in value of our Encapsys business. The performance and decrease in value of our packaging division resulted in a $3.98 decrease in share value.

Additional offsets to the decreases were a $.95 increase in share value for debt reduction and a $.58 increase for a reduction in the number of outstanding shares and related valuation matters. The December sale of C&H Packaging had no net impact on share value.

2009 performance
For full-year 2009, the value of PDC stock dropped from $21.43 to $13.26, a decline of 38.1%. By comparison, the Dow Jones Industrial Average rose 18.8% during 2009. The NASDAQ was up 43.9%, and S&P 500 rose 23.5%. The Dow Jones Index for the paper industry was up 124.5% in the U.S. and 38.2% worldwide.

The value of PDC stock has increased approximately 33% since the November 2001 employee buyout of the company. During that period the Dow Jones rose 8.5%, the NASDAQ is up 24.1% and the S&P 500 rose 1.2% while the Dow Jones Index for the paper industry declined 39.3%.

John D. Sobiesczyk

John D. Sobiesczyk John D. Sobiesczyk, 71, town of Pine River, Lincoln County, died Sunday, Jan. 10, 2010, at Aspirus Wausau Hospital. John worked in the paper industry in the Fox River Valley and then Wausau Papers-Brokaw mill. After his retirement, John became a real estate broker and was employed with Coldwell/Banker in Wausau. He was a veteran of the U.S. Army. Survivors include his wife, Kris (Pope) Sobiesczyk, Merrill; one daughter, Nicole (Kendall) Hull, Appleton; three sons, Michael (fiancee, Mary Schnell) Sobiesczyk, Neenah, Stan (Sarah) Sobiesczyk, Wausau, and Andy (April) Sobiesczyk, Merrill; two grandchildren; and one sister, Barb (Fred) Daniel, Menasha. Memorial service will be at noon Saturday at the Taylor-Stine Funeral Home, Merrill. Burial will be in spring in St. John's Cemetery I, Menasha. Visitation will be from 10 a.m. until service time Saturday at the funeral home.

Sad news regarding Candy Adams

Just learned yesterday that Candy Adams lost her battle with cancer early last week. Ken Nissen called me from Arizona asking if what he had heard was true. I talked to Doug yesterday afternoon and learned that the family will have a small, private service for Candy early this week in Philadelphia and Doug said friends are organizing an open house in Neenah this Saturday. We found the obituary in the Post Crescent this morning on-line, there wasn't anything in the Philadelphia papers that we could find. Such sad news, please pass this on, I don't have everyone's e-mail address in my contact list. Stan

obit from PC:

Candy Adams, 59, Neenah, peacefully departed life on Jan. 6, 2010, in the loving arms of her husband, Doug. She was born March 13, 1950, to Richard and Ruth Shepherd in Philadelphia, Pennsylvania. Candy graduated from Harriton High School, Rosemont, Pennsylvania and went on to college at Penn State University where she graduated in 1972 with a degree in Education. Candy was a member of Kappa Alpha Theta Sorority. It was at Penn State that Candy met her soul mate, Doug Adams, and they married in 1973. Candy and Doug raised two wonderful sons, Hunter and Drew. Candy worked as a librarian at St. Johns Elementary School in Menasha, Wisconsin. She was very fond of books and providing reading opportunities for children. Candy also served on the Neenah School Board from 1995 to 2006 serving on the Curriculum and Program Development Committee and as the Board Clerk from 2000-2005.

Candy enjoyed life, especially getting involved in the activities of her children. She had a penchant for bringing out the best in people. Always an upbeat attitude, warm smile and pleasant personality that put everyone at ease, Candy made it her mission to find the best in everyone. Whether it be gathering a group of people for a fun cup of tea, glass of wine or a full PARTY, Candy was the classic organizer. She shared many memories with friends on their walks around "The Point" in Neenah.

Candy is survived by her husband, Doug; two sons, Hunter, Los Angeles, California and Drew, San Diego, California; her mother Ruth Hinkle Shepherd, Philadelphia, Penn.; and a brother, Rick Shepherd, Philadelphia, Penn.

She was preceded in death by her father, Richard Shepherd.

It was Candy's wish to have an open house to celebrate her life. It will be held on Saturday, January 16, 2010, from Noon-3:00 p.m., at their home at 415 East Wisconsin Avenue, Neenah, Wisconsin.

A memorial has been established in Candy's name through the Education Foundation of Neenah, (Candy's Books For Kids), P.O. Box 244, Neenah, WI 54957-0244